Solution of Q 9 Fundamentals of Partnership Firm TS Grewal 2023-24 [CBSE]
Step-by-step solution of Question 9, Chapter 1 Accounting for Partnership Firms – Fundamentals, TS Grewal Class 12 Accountancy 2023-24 for the CBSE Board.
Question 9
Akhil, Sunil and Parvesh are partners sharing profits in the ratio of 3 : 2 : 1. Sunil had given loan to firm on 1st November, 2022 of ₹4,00,000. Interest payable was agreed @ 12% p.a. Interest was paid by cheque up to February, 2023 on 1st March, 2023 and balance was yet to be paid.
Pass the Journal entries for interest on loan by partner.
Solution
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About this solution
This is Chapter 1 Accounting for Partnership Firms – Fundamentals of TS Grewal Edition 2023-24.
Written by Vijay Adarsh, teaching commerce since 2003 to Class 11, Class 12, B.Com, CA, CS and CMA students.
We have solved all the practical questions in this book and explained them Step by Step in detail with clear working notes.
Also, we have followed the proper format and workings which are required as per CBSE Guidelines. Just follow our presentation of solutions and score good marks in Accountancy Board Exam.
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